It would be right to say that SMEs in India have been instrumental in bringing about significant changes in the Indian economy and have emerged as one of the key engines of growth. Numerous success stories showcase how these small businesses which started as dreams have thrived and contributed to transformative growth. Suddenly, no dreams are too small. The new-age fintechs are enabling credit access for SMEs which has opened the door to infinite possibilities for them.
Each of these success stories warms our hearts as they stand as a testament to the potential of our nation’s talents and how far they can go when they are aided with the technologies and financial resources that they need. They demonstrate the resilience of SMEs, and how they are not hesitant to seize emerging opportunities and address any challenges that come their way. SMEs significantly contribute to economic diversification, and job creation, thereby playing a key role in advancing the Indian economy toward a more robust and inclusive economic future.
We, at BharatPe, are lucky to have been able to partner with lakhs of budding entrepreneurs and help them make their dreams a reality. Today, we unwrap the story of Mr. Yogesh Ashok Yadav, owner of Om Sai Salon in Pune, a small business owner who is breaking through multi-generational financial limitations and daring to dream big.
At 40+ years, Yogesh hails from Pimpri Chinchwad, Pune. His father had a salon in his village in Solapur district, and Yogesh moved to Pune from there, in search of better opportunities. He didn't have the opportunity to continue his education due to financial problems and after studying till 8th standard, he joined his father’s business. After getting the required training at his father’s salon, Yogesh worked for several years in different salons. During this time, Yogesh realized that he wanted to start his salon.
He started his business in 2021 and opened Om Sai Salon after he arranged funds from some savings he had accumulated. He got to know about BharatPe when the agents came to visit him and explained the services. He took a loan from BharatPe for Rs. 10,000, which he used to renovate his salon. The second loan was Rs. 20,000 and he utilized these funds to address his immediate business requirements. The third loan was Rs. 95,000, and he used it to buy some equipment and make other improvements in his shop. Currently, Yogesh is paying around Rs. 14,000 rupees for the rented shop. He is considering buying his shop.
Yogesh has had a great experience with BharatPe and shared that he is satisfied with all the services they provide. He has recommended BharatPe to his friends-one of the friends owns a garage and the other has a mobile shop. His business has seen significant growth after he came to be associated with BharatPe, and the results have been nothing short of amazing! These ambitious triumphs serve as an example for other aspiring business owners, inspiring them to take chances and invest in their ideas. While we love micro businesses flourishing, what we love the most is that they contribute to a more inclusive and varied economy by continuing to grow and expand. The cumulative impact of SME success stories acts as a catalyst for positive changes, propelling the country’s economy toward greater prosperity and uniform growth, and we at BharatPe are privileged to play a small part in this journey.